IRS Protect Your Client; Protect Yourself Tax Tip Number 5 Safeguarding Taxpayer Data – Secure Your Office Tax professionals can help protect taxpayer data by looking around their own offices. It’s more important than ever that tax professionals take aggressive steps to protect taxpayer information. Securing office space is as important as securing computers. In… Read More »
If/Then Chart Explains How the Health Care Law Affects You As you prepare to file your 2016 tax return, review this chart to see how the health care law affects you. IF YOU… THEN YOU… Are a U.S. citizen or a non-U.S. citizen living in the United States Must have qualifying health… Read More »
Excuses for late filing of tax returns Source : https://www.gov.uk [ Her Majesty’s Revenue and Customs (HM Revenue and Customs or HMRC) is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support, and the administration of other regulatory regimes including the national minimum… Read More »
IRS issues final regulations defining terms related to marital status. Download T.D. 9785
Download Form 8962 Premium Tax Credit
Download Form 8959 Additional Medicare Tax
China- Customs audit regulations w.e.f 1 November 2016 The new measures provide guidelines in implementing customs audit regulations and specify and refine various items in the operation and implementation of the customs audit regulations. The measures: Add some content related to self-disclosure Add provisions in relation to introducing third-party agencies (e.g., professional accounting or tax organizations)… Read More »
Retirement Plans Can Make Loans, Hardship Distributions to Victims of Hurricane Matthew WASHINGTON —The Internal Revenue Service today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Matthew and members of their families. This is similar to relief provided this summer to Louisiana flood victims. Participants… Read More »
ATO draft ruling regarding eligibility for exemptions on foreign dividends. The Australian Taxation Office (ATO) recently issued draft ruling TR 2016/D2 addressing an interpretive issue that goes to the heart of whether a taxpayer can get an exemption for a dividend it receives from a foreign company. This issue originally arose from a question raised… Read More »
Announcement of Disciplinary Sanctions from the Office of Professional Responsibility The Office of Professional Responsibility (OPR) publishes all disciplinary actions in the Internal Revenue Bulletin (IRB). Published sanctions include censure, suspension or disbarment from practice before the Internal Revenue Service.The below listed individuals have recently been disciplined by OPR and are published in IRB Number 2016-38, dated September 19, 2016, on pages… Read More »